Global Shares, having grown to nearly $200 billion in assets under administration across over 800,000 corporate employee participants, will now enter its next phase of growth under new ownership, as part of J.P. Morgan. As reported at the time of signing the acquisition, J.P. Morgan will seek to integrate Global Shares into its Asset & Wealth Management line of business, remaining headquartered in Clonakilty, Ireland. As part of the closing, Motive Industry Partner Andy Stewart will step down as Executive Chairman and Motive Partner Neil Cochrane will step down from the Board of Directors.

Andy Stewart, Industry Partner at Motive Partners and former Executive Chairman of Global Shares, commented:
“We are delighted with the growth and expansion of Global Shares, and the impact this business has had for its clients in recent years. I believe this to be a great example of Ireland’s exceptional financial technology talent and environment, and we’re grateful to Tim and the whole Global Shares team for their partnership. It has been a privilege to work with them and we look forward to the many future successes that lie ahead for the Global Shares team as part of J.P. Morgan”.

Paschal Donohoe, Minister for Finance for Ireland, commented:
“I welcome the completion of the acquisition of Global Shares by J.P. Morgan. This is a stellar example of the Ireland Strategic Investment Fund, through its investment in Motive, helping to develop and grow an Irish business to secure this investment from a global player such as J.P. Morgan. I also welcome the fact that the company will retain its headquarters in Clonakilty during the next phase of its growth agenda, thereby providing future employment in financial technology in the region”.